--- title: "The overall cash flow ETF Penghua's defensive value stands out, waiting for the market's selling momentum to weaken" type: "News" locale: "en" url: "https://longbridge.com/en/news/279752728.md" description: "Today, the overall market experienced fluctuations and adjustments. The CSI Cash Flow Index opened lower and trended downward, with weak sideways trading in the afternoon and a slight rebound at the end, overall slightly outperforming the broad market. The oil and electricity sectors led the gains, significantly boosted by the geopolitical conflicts in the Middle East, with ICE Brent crude and INE crude oil surging. The cash flow index relied on counter-cyclical sectors such as oil and gas to maintain a relatively resilient bottom line, demonstrating its defensive foundational value. The latest quote for the Penghua All Share Free Cash Flow ETF is 1.34 yuan, closely tracking the CSI All Share Free Cash Flow Index" datetime: "2026-03-19T08:49:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279752728.md) - [en](https://longbridge.com/en/news/279752728.md) - [zh-HK](https://longbridge.com/zh-HK/news/279752728.md) --- # The overall cash flow ETF Penghua's defensive value stands out, waiting for the market's selling momentum to weaken Today, the overall market experienced fluctuations and adjustments. The CSI Free Cash Flow Index opened lower and trended downward, with weak sideways trading in the afternoon and a slight rebound at the end, overall slightly outperforming the broad market. The leading sectors were mainly in the oil and electricity sectors, with individual stocks in electronic components, healthcare, and chemicals contributing to some active points, but with low correlation to the sectors. Specifically, influenced by the geopolitical conflict in the Middle East, ICE Brent crude oil and INE crude oil surged further, driving the oil sector to rise against the trend. Institutions pointed out that the current market is in a window period lacking a clear main line, with sentiment tending to be cautious and conservative. Reviewing the recent market, the cash flow-weighted sector has transitioned from a previous "cyclical rally" to a mid-term "internal differentiation and hedging," and now to the current phase of "most adjustments." Although it has not been able to stand out in the weak market, the cash flow index has maintained a relatively defensive bottom line supported by a few counter-trend sectors like oil and gas, confirming its defensive cornerstone value, waiting for the exhaustion of the market's selling momentum. As of March 19, 2026, 15:00, the CSI All Share Free Cash Flow Index (932365) saw mixed performance among its constituent stocks, with China National Offshore Oil Corporation leading with a 5.86% increase, Absen rising by 4.40%, and LianKe Technology up by 2.60%; Nanshan Aluminum led the decline. The latest quote for the CSI All Share Free Cash Flow ETF Penghua (512130) is 1.34 yuan. The CSI All Share Free Cash Flow ETF Penghua closely tracks the CSI All Share Free Cash Flow Index, which selects 100 listed companies with relatively high free cash flow rates as index samples to reflect the overall performance of listed companies with strong cash flow creation capabilities. Data shows that as of February 27, 2026, the top ten weighted stocks in the CSI All Share Free Cash Flow Index (932365) are China National Offshore Oil Corporation, SAIC Motor Corporation, Gree Electric Appliances, COSCO Shipping Holdings, China Aluminum Corporation, TCL Technology, Muyuan Foods, Chint Electric, Baosteel, and Great Wall Motors, with the top ten weighted stocks accounting for a total of 50.26% ### Related Stocks - [563390.CN](https://longbridge.com/en/quote/563390.CN.md) - [563770.CN](https://longbridge.com/en/quote/563770.CN.md) - [512130.CN](https://longbridge.com/en/quote/512130.CN.md) - [563760.CN](https://longbridge.com/en/quote/563760.CN.md) - [563830.CN](https://longbridge.com/en/quote/563830.CN.md) ## Related News & Research - [The oil market is reaching a 'tipping point' that could create problems for stocks, according to this Wall Street legend](https://longbridge.com/en/news/286797559.md) - [China and Russia to boost cooperation in oil, gas, and coal.](https://longbridge.com/en/news/287088733.md) - [Asia Naphtha/Gasoline-Naphtha prices fall in tandem with Brent](https://longbridge.com/en/news/287056749.md) - [Citi bull case Brent hitting $150 near term as oil markets under-price disruption risk](https://longbridge.com/en/news/286992430.md) - [UAE says its decision to leave OPEC was a strategic economic move, not a political one](https://longbridge.com/en/news/286646429.md)